On December 12, 2023, Argonaut Gold Inc. completed a public offering of 223,685,000 common shares at $0.38 per common share for gross proceeds of approximately $85 million, which includes the exercise in full of the underwriters' over-allotment option.

The offering was completed on a bought-deal basis by a syndicate of underwriters co-led by Cormark Securities Inc., BMO Capital Markets and Scotia Capital Inc., and including RBC Dominion Securities Inc., Canaccord Genuity Corp., Desjardins Securities Inc., Paradigm Capital Inc. and Laurentian Bank Securities Inc.